News....
Colombian Mines Updates Progress at Yarumalito, Rio Negro and Venecia Projects
VANCOUVER,BRITISH COLUMBIA--(Marketwire - Sept. 1, 2010) - Colombian MinesCorporation ("Colombian Mines" or "the Company") (TSX VENTURE: CMJ.V)is pleased to announce the discovery of two new gold bearing zones atRio Negro and the continued definition of high grade goldmineralization on the Yarumalito drill project. Work programs areongoing at the Company's projects as provided in the update below. Forfurther project information, please refer to the Company website at www.colombianmines.com.
YARUMALITO
Drilling. Drilling at Yarumalito is ongoing under the expanded drillprogram as announced in the Company's press release dated July 30,2010. The Company is executing its plans to drill up to an additional6,800 meters of core at Yarumalito to evaluate both multiple high gradestructurally controlled veins and the bulk tonnage potential in the LaEscuela and Balastreras porphyry systems. Drill results are expectedlater this month.
MMI Soil Samples. Field crews are conductingdetailed, close-spaced Mobil Metal Ion (MMI) sampling and havecompleted roughly 25.8 line kilometers of the MMI grid. This recentsampling program, designed as a grid on nominal 25 meter sample spacingalong lines that are 100 meters apart, will provide much more detailthan the initial MMI grid which consisted of 100 meter sample spacingon lines 500 meters apart. Alternate lines are being submitted forinitial analysis, with remaining lines retained for future analysis inareas of anomalies identified by the initial samples. This program isdesigned to improve definition of strong linear anomalies visible onthe MMI geochemistry map on the Company's website that suggest multiplestructurally controlled zones of high grade mineralization. Addeddetail is expected to also help define zones of structuralintersection, where higher grade gold mineralization is expected tooccur. The initial coarsely spaced sample grid displayed MMI resultsfor gold that were up to 8,600 times background (Response Ratio) alongthe Escuela - Poleala ("EP") structural trend, which is interpreted tobe more than 3,000 meters long on strike. The EP trend has also beenintersected in recent drilling, where the Company encountered multiplehigh grade drill intercepts including hole YAR-011 grading 33.75 gramsper metric tonne gold (g/T Au) over 1.8 meters, and in outcrop channelsamples that include the recently reported 2.8 meters grading 18.9 g/TAu. The current MMI sampling will also cover areas where historicsampling yielded channel sample results averaging 11.5 g/T Au over 6meters, with individual samples in excess of 21 grams per tonne gold(g/T Au) in an area of extensive soil and colluvial cover.
Geophysics (Magnetometry). With the recent completion of approximately23.5 line kilometers of high resolution ground magnetometry (mag), theCompany now has 33.7 kilometers of mag data over the core of theProperty. This high resolution ground mag was conducted along the samelines as the MMI, and when combined with those results, the increaseddefinition will assist in targeting future drilling and exploration forboth the high grade vein and porphyry style mineralization. An updatedmap of the ground mag is currently available on the Company's website.
RIO NEGRO
At the Company's Rio Negro project, the ongoing surface rock chipchannel sampling program has discovered two new structural zones withgrades and widths that may be amenable to underground mining. Resultsinclude 11.43 g/T Au over a 1.5 meter sample width and 9.59 g/T Au over1.15 meters from vein structures with no prior prospecting or mining.Both samples represent an approximate true width of the structure atthe surface. Additionally, multiple narrow, irregular structures in thesame area have returned up to 23.75 g/T Au from veins hosted insubstantially the same intrusive and metamorphic rocks that host themajority of mineralization in the California and Vetas Districtslocated roughly 23 kilometers northeast of Rio Negro.
Aspreviously reported, vein structures continue to be found that areassociated with two intersecting structural trends. The primarymineralized trend is northeast oriented, and is parallel to the majormineralized structures in the California District. Recognition of theimportance of northeast veining and fault structures is leading Companygeologists to examine similarly oriented linear topographic anomalieson the property that could represent new exploration targets. A secondmineralized fault system trending north-northwest and paralleling theregionally extensive Bucaramanga Fault Zone is also being examined,with particular attention paid to areas where these structuresintersect the northeasterly faults and vein zones.
All sampleswith anomalous gold contained elevated tellurium (Te) with a strongcorrelation coefficient of 0.68 (1 being perfect correlation and zerobeing no correlation), and with a peak value of 210 ppm Te in a samplecontaining 15.58 g/T Au. This association suggests an epithermal systemwith a possible magmatic connection. The epithermal nature of thesystem is also supported by the local presence of rhythmically bandedchalcedonic to sugary quartz, and coarser crystalline quartz in some ofthe higher grade veins. This association may also provide anothergeochemical tool for identifying the more important mineralized veinzones.
Based on these encouraging results the Company plans tocomplete an MMI soil sampling program on the Rio Negro Property, with apossible follow-up ground magnetics survey. This work, coupled with ourrecent mapping and ongoing rock chip sampling, is expected to generatedrill ready targets at Rio Negro later this year.
VENECIA
The Company's Venecia gold-copper porphyry project is contiguous withthe west side of Bellhaven Resources' La Mina property, and liesapproximately 10 kilometers north of AngloGold's Quebradona goldporphyry. Venecia is hosted within the productive Cauca - Romeralstructural belt, which as reported in the Company's press release ofDecember 18, 2008, hosts more than 30 million ounces of combinedhistoric gold production and reported resources, including La Colosa(AngloGold), Marmato (Medoro), Yarumalito (Colombian Mines), Quebradona(B2Gold), La Mina (Bellhaven), Titiribi (Sunward), Buritica(Continental Gold) and others. The geology at Venecia is similar tomost other porphyry systems on the Cauca-Romeral belt including bothQuebradona and La Mina, and consists of a series of late Tertiarystocks that are intrusive into the older Combia volcano-sedimentarysequence.
Colombian Mines has completed a conventional soilgeochemical survey with a nominal sample spacing of 250 meters thatcovers most of the eastern half of the Venecia property. Concurrently,Company geologists collected rock chip and channel samples wherepossible. The soil survey identified three large coincident gold andcopper anomalies, while surface rock sampling returned numerous highlyanomalous samples with values up to 3.8 g/T Au and 0.6% Cu over a 1meter channel width in an area of very sparse outcrop. A Veneciaproject description with maps on general geology and geochemistry willbe updated on the Company website in the near future.
Sample Collection - Quality Control - Quality Assurance
The Company's exploration samples are collected in accordance withaccepted industry best practices. Samples are collected and transportedunder the supervision of Company personnel to SGS Laboratory's Medellinsample preparation facilities and analyzed at SGS's Lima, Perulaboratory (ISO9001:2000). For all rock and drill samples, gold wasanalyzed by fire assay with an ICP/AES finish, and silver and basemetal analyses were determined with ICP/AES techniques. As standardprocedure for core and rock channel samples, the Company conductsroutine QA/QC analysis on all assay results, including the systematicutilization of certified reference materials, blanks, field duplicates,and umpire laboratory check assays. Rock channel results in this newsrelease represent approximate true widths. All MMI samples arecollected by trained field technicians and the samples analyzed by SGSat their Lima, Peru facility. For MMI soil sampling, duplicate samplesare collected at a rate of 1 in 30.
Mr. Robert G. Carrington,P.Geo., a Qualified Person as defined by National Instrument 43-101 andPresident of the Company, has reviewed and verified the technicalinformation contained in this news release.
About Colombian Mines Corporation
Colombian Mines Corporation is focused on the acquisition, explorationand development of high quality mineral properties in Colombia withnear to intermediate term production potential. Colombia isincreasingly recognized as a highly prospective, yet under-exploredcountry with excellent discovery potential. Further information can befound on our website at www.colombianmines.com.
Robert G. Carrington, President
Forward-Looking Statement
Some of the statements in this news release contain forward-lookinginformation that involves inherent risk and uncertainty affecting thebusiness of Colombian Mines Corporation. Actual results may differmaterially from those currently anticipated in such statements.
Neither the TSX Venture Exchange nor the Investment Industry RegulatoryOrganization of Canada accepts responsibility for the adequacy oraccuracy of this release.
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